COSS 12th June 2019 Update

Info COSS
Info COSS
Jun 12 · 5 min read

Update on 20th June 2019:

The COSS and LALA merger will commence on 25th June 2019, 1400h GMT+8

Please take note of the following:

Original post on 12th June 2019:

Dear members of the community, users and token holders -

This announcement will highlight two important things:

(i) Our brand and what we stand for

(ii) Much anticipated details of the token merger and swap process

Our brand

After a lot of internal deliberation and feedback from the community, we have decided to keep ONE BRAND IDENTITY — COSS — ‘Crypto One Stop Solution’.

We are branding all our products as — Crypto One Stop Solution or, as the world popularly knows us already, COSS. The name encapsulates our vision perfectly and that is what we will continue to work towards.

Here are the specifics:

A brand identity is an important aspect of a company. It encompasses our mission, reflects our drive to succeed, and helps us develop a unified brand image and marketing strategy. We wanted something that gives a nod to our combined legacies and yet points the way to a new future ahead. This is a process that requires careful design and thinking, and our new brand identity will be unveiled in the very near future.

The Token Swap Process

All COSS and LALA tokens will be swapped for your new COS token only on COSS.io exchange. The swap commences on 25th June 2019 at 14:00 GMT+8.

The new ticker is COS to avoid confusion with existing COSS token contracts. The same will be listed on portfolio tracking apps, Etherscan, market tracking websites and everywhere else.

The swap ratios remain unchanged. You will receive:

Token Swap Details:

After you have swapped your COSS and LALA tokens to the new COS token, you can safely withdraw your COS token to an external wallet if you like or receive trading discounts on COSS as before by keeping it on COSS exchange. You will be able to accrue the Fee Split Allocation (FSA) by setting up your unique identifier on the external wallet as before. You will have to set up a new external identifier. The tutorial on our website will also be updated to walk you through the process.

Step by step swap instructions:

  1. Log in to COSS.io and go to COS Swap in the side panel
  2. Your COSS and LALA balances will be displayed, along with the total COS token you will receive after the swap

3. Click on “Convert to COS” — a window will pop up with terms and conditions of the swap. Please check the box and confirm by accepting

4. You will now be able to see your new COS tokens in your COSS.io wallet

All done!

Your new COS tokens will have the following existing as well as additional utilities going forward:

  1. Fee Split Allocation (FSA) — all COS token holders receive a 50% split of the total trading fees COSS collects on a daily basis, based on their holdings.
  2. Trading Fee Discounts — traders can pay trading fees on COSS.io using the COS token to get a discount on the usual trading fee.
  3. COSS Wallet features, utilities, promotions and discounts — you will be able to utilise your COS and other balances on the COSS Wallet app to make GPS-based transfers, mobile credit top-ups, earn reward points and access a host of other features which are being built into it.

The new COS token combines the utility of what were previously two separate products with their own set of features into one super-token powering one ecosystem — the Crypto One Stop Solution ecosystem. We believe the COS token surpasses all existing exchange tokens in the market in terms of utility.

We would like to thank all of you for your feedback, support, and participation. The start of the COS swap marks the start of new initiatives and continued efforts to build and improve. Look forward to more new developments coming from us!

We will be in touch again soon.

Info COSS

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Info COSS

COSS is a Singapore based cryptocurrency exchange trading both Crypto and Fiat pairs.